Samsung Pay is doing well for itself across Korea. New figures show that a million subscribers in South Korea have made over ₩100B in transactions, 75 percent of which were made with Magnetic Secure Technology. But Samsung’s Injong Rhee wasn’t just interested in giving out digits. Instead, he was focused on expanding the chaebol’s technology reach on multiple fronts in an extensive interview.
Rhee says that Samsung Pay — with its MST — is mainly up against not other mobile payment systems, but with plastic.
More and more, all the plastic cards — [...]